SPD and Yugra Government Enhance Social and Economic Cooperation

05 September 2018

On September 5, 2018 Salym Petroleum Development N.V. (SPD) and the Government of Khanty-Mansi Autonomous Region – Yugra signed in Khanty-Mansiysk a new 5-year agreement on social and economic cooperation. The document was signed by SPD Chief Executive Officer Michael Collins and the Governor of Khanty-Mansi Autonomous Region – Yugra Natalia Komarova.

"Since the first days of the project and for 15 years we have been building partnerships with the regional Government to contribute to sustainable development of the region. Within these years SPD allocated over 1.2 billion rubles to social projects in education, health care, entrepreneurship and culture of indigenous peoples of the North. In future we will continue to actively support these areas and develop our projects in innovation, digitalization, energy efficiency and environment safety," stated Michael Collins, SPD Chief Executive Officer.

In the new agreement the parties defined the vectors of further cooperation in ecology, energy efficiency and power saving, hydrocarbons development, Northern indigenous peoples’ rights protection. The document also provides for SPD and KHMAO-Yugra Government cooperation on a wide range of issues and joint actions aimed at creating favorable conditions for subsoil geological study, oil recovery factor improvement and innovations, advanced technologies adoption in various aspects of oil production.

Social partnership priority areas include innovation, energy efficiency, environmental and fire safety, integrated safety and security in social institutions, accessible environment, development of education, health care, small and medium businesses and preservation, development of Northern indigenous peoples’ culture and traditions. Specifically, SPD will sponsor a dozen of major international and regional events traditionally held in Yugra including Oil Capital International Forum, Save & Preserve International Environmental Campaign, International Kayak Race for the Governor's Cup. In education the company will support Research Library 2020 Project of Yugra State University, Intelligence Center setting up in Geology, Oil & Gas Museum, allocate grants to school graduates and emerging entrepreneurs. In health care SPD will acquire medical equipment for district, village hospitals and arrange first aid training for coaches, teachers and students of Yugra Olympic Reserve Boarding School and Yugra Adaptive Sports Centre.

SPD has been signing social and economic cooperation agreements with Government of Yugra since 2005. As per SPD social investment strategy the focus of the company’s social activity is Nefteyugansk District, the territory of its immediate presence.